Politická ekonomie 2011, 59(6):723-742 | DOI: 10.18267/j.polek.818

Fiškálna udržateľnosť penzijných systémov

Rudolf Sivák, Pavol Ochotnický, Andrea Čambalová
Ekonomická univerzita v Bratislave.

Fiscal Sustainability of Pension Systems

Aging population and fiscal costs of the pension system is a burden for the sustainability of public finance. Therefore, many countries have been forced to reform their pension systems. One of the many ways of doing this is to switch from the convention pay-as-you-go system to capital funding. This paper explores the present Slovakia's Pension system and its impact on public finance from the long-term perspective. This article points out that the authorities have to be committed to bringing public finance to a sustainable path. In this regard, a financial consolidation of the pension system would be needed. Therefore, the paper suggests some alternatives of the mixed pension system.

Keywords: PAYG, pension reform, aging, dependency ratios, PAYG balance, cumulative debt, funded
JEL classification: E63, G23, H55, J32

Published: December 1, 2011  Show citation

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Sivák, R., Ochotnický, P., & Čambalová, A. (2011). Fiscal Sustainability of Pension Systems. Politická ekonomie, 59(6), 723-742. doi: 10.18267/j.polek.818
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